On September 25, 1968, a 14-year-old student named Larry Mullen tacked a note on his school’s bulletin board, searching for members for the “Larry Mullen Band” he was forming. That name did not fly, and the band called itself “Feedback”, which was one of the few terms any of the six members knew that was applicable to a band using electric guitars.

The six aspiring musicians—all students at Mount Temple Comprehensive School in Dublin, Ireland—could not play very well. They realized that some established punk rock bands played was not much more technically proficient than their own, yet were very popular. So, they chose to play punk rock song covers.

Getting paid for the first time, Feedback played a concert at a local high school in April of 1977, and Feedback changed its name to “Hype”. In March of 1978, Steve Averill, a punk rocker with the “Radiators”—and a friend of Hype member Adam Clayton’s family—suggested six other names for the band. Disliking it the least, Hype chose its new name, “U2”.

Later that month, U2 won a talent contest in Limerick. The prize was £500 and studio time to record a demo record. At a concert in Howth, Dik Evans bid farewell to Hype and the audience as he walked off the stage after a set of covers. The four remaining band members took a break and returned as U-2 to play their original competitions.

Still active as of 2017, U2 has won 22 Grammy Awards and sold more than 170 million records.

More Info: en.wikipedia.org